Monday, January 5, 2009

It's very probable that the current "crisis/disaster" in the world's economic system, in addition to not really being a crisis (a crisis is when we run out of air or water, not money!) was caused by the World Wide Web.

As we shrink transaction costs and latency, we discover that the efficiencies and savings generated therefrom are based on getting rid of redundant labor: jobs.

The laying off of millions of "workers" is how these savings get banked, albeit probably in the wrong bank accounts!

This new society has already destroyed the "phone company" and the "banking industry" and will shortly do the same for "insurance" and many other familiar institutions, including charities and even religions and governments with their borders and armies.

We are not addressing how best to benefit from the elimination of pointless "jobs". So long as we subsidize employment rather than people, this will continue.